Latest Forex Research

Central European Daily

CE currencies strengthen ahead of ECB meeting Macroeconomic fundamentals remain supportive Yesterday Hungarian and Czech data confirmed that the CE region is recovering.

Daily Technical Report

EUR/USD has moved recently within a shorttermhorizontal range between 1.3586 and1.3650. Today’s ECB decisions are likely todetermine the direction of the next short-termtrend.

The summer seeds of a sterling selloff

Today’s Bank of England meeting shouldn’t provide any policy surprises, but things are likely to get more interesting over the summer as a full third of the current MPC are replaced.

The Global Macro Pulse

EURUSD and EUR crosses came under moderate pressures. EURUSD traded just below 1.36; EURGBP, EURSEK and EURNOK were also slightly lower.

USD/JPY correction target met, NOK/SEK @ support

EURUSD: Given that we don’t now the outcome of today’s ECBmeeting we have to act on what Mr. Market is telling us.

FI Eye-Opener: You better not be bluffing, ECB

Longer German bond yields continued to rise yesterday and the curve steepened some more.

UBS Morning Adviser

Draghi’s words always do the damage, so position accordingly The ECB decision today is perhaps the most-scrutinised in nearly two years as negative rates are expected.

Daily Market Technicals

EUR/USD has again pulled back from the key $1.3647-72 region only to find support ahead of the $1.3586 low from May 29.

EUR/USD Analysis

The pair started the Thursday session at $1.3599 from a NY range of $1.3597-$1.3639 and marked a narrow trading range of $1.3594 to $1.3605 in lacklustre Asia.

FX Daily

Today’s ECB meeting will be the main attraction. We expect the ECB to deliver anaggressive easing move by cutting the refi and deposit rates, taking the latter intonegative territory.

USD/JPY Analysis

JPY stepped into Asia Thursday at Y102.75 from NY’s range of Y102.44-Y102.75, euro-yen opened at Y139.72 with both rates sliding down to

Aussie had a slightly positive day despite a surprise drop in the trade data to post a -A$122 million deficit (MNI Median forecast was a A$300 million surplus), with exports down 1% and imports up 2%.